Snowball also launched the University of Birmingham Alumni Mentoring Programme to help students in their final year. She is a former trustee of Comic Relief, Macmillan Cancer Support and Business in the Community.

She said: "I am completely stunned by and deeply grateful for this honour. I am fortunate to work with and for brilliant people, supported by my family and friends. This award is all down to them.

"There is much work still to be done on the diversity and equality agenda in business and I am proud to lead teams helping to drive change."

Tim Lefroy, the outgoing chief executive of the Advertising Association, was also honoured. He received an OBE for services to the advertising industry.

Meanwhile, Ashley Tabor, founder of Global, was awarded an OBE for services to the media industries.

Anthony Elliott, founder of Time Out, also received an OBE for services to publishing.